Regina Otokpa 
President Bola Ahmed Tinubu on Tuesday inaugurated the newly constituted 15-member National Stakeholders Working Group (NSWG) also known as the Governing Board of the Nigeria Extractive Industries Transparency Initiative (NEITI).
Tinubu who charged the members not to lose focus on their functions of policy and oversight, cautioned them to consider the non-partisan nature of NEITI and conduct themselves in line with the principles of the global Extractive Industries Transparency Initiative (EITI).
Represented by the Secretary to the Government of the Federation, Sen. George Akume, who is chairman of the new NEITI Board, he noted that the transparency and prudent management of the nation’s resources were central to his administration’s economic agenda and anti-corruption policy.
He said: “The present administration is passionate and remains fully committed to the global Extractive Industries Transparency Initiative (NEITI), the work of NEITI and the visible impacts which the EITI process has achieved so far in Nigeria.
“Our faith in the EITI process is not just because it is central to our key government agenda, but also because, over the years, NEITI has demonstrated a high degree of competence, integrity and commitment to the values that the country requires to achieve economic growth and development in the sector through the availability of reliable information and data required for national planning and reforms.
“NEITI has supported phenomenal revenue growth in the sector through meticulous application of EITI principles. Our national and global focus is on energy security, efficiency and justice in energy financing, renewables and control of emissions.
“The work of NEITI is so important to our country and particularly this administration in helping us to define our country’s engagement strategy on the energy transition debate through consultations, and constructive engagement driven by reliable information and data.
President Tinubu asked the board members not to engage in the day-to-day management of the agency saying, “It is also necessary for me to stress that your appointment is a part-time one.
“Your appointment as a member of the NSWG is not a full-time job and as members, please note this very carefully to avoid getting involved in issues of day-to-day management which is the work of NEITI Management under the leadership of the Executive Secretary. You are therefore advised to conduct yourselves in accordance with this requirement.”
Addressing the Board shortly after the inauguration in his capacity as the NSWG Chairman, Senator George Akume said there was a need to immediately take steps to address outstanding issues raised by the EITI validation report which the NEITI Secretariat has already prepared a detailed corrective action plan for the Board to consider.
“This Board has the responsibility to understand the issues and provide policy support to the Secretariat to successfully implement the plan. Nigeria scored 72 points in that global Assessment and it is my hope that Nigeria will score 100 points at the next validation due in January 2026 under this Board and my Chairmanship.
“Our duty as a Board is to provide strong policy direction for NEITI and the extractive sector for the full implementation of the EITI principles and standards to ensure transparency and accountability in the sector.
“We must support the ongoing independent audits of the industry, reforms in the oil and gas sector being driven by the Petroleum Industry Act 2021, the reforms in the solid minerals sector, the proposed amendments of the NEITI Act, pay attention to the debate on climate change, energy transition, beneficial ownership disclosures, domestic resource mobilization, contracts transparency implementation and EITI standards on Open Data.”
This is the 6th governing Board to be appointed for NEITI since Nigeria commenced the implementation of the Global Initiative in 2004. By the NEITI Act 2007, the Chairman and Members have four-year tenure and are on a part-time basis, while the Executive Secretary has a five-year tenure and is on full-time appointment.
